GuocoLand’s Lentor Modern and Midtown Modern fully sold
The last unit at Lentor Modern, GuocoLand’s integrated project in the Lentor Hills estate, has been offered, which indicates that the 605-unit project is at present totally taken on. The success takes place the back of Midtown Modern, which was additionally totally sold since last December, GuocoLand states in a Jan 27 statement.
Lentor Central Residences, a future project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for release in 1Q2025. The condo consists of 477 units across 2 high-rise blocks.
The development will consist of five 25-storey towers with 941 units, consisting of a portion of the initial Upper Thomson Secondary School that will be saved and adapted for non commercial use. It is going to also have safe access to Springleaf MRT Terminal on the TEL.
“The reaction to Lentor Modern and our various other developments in the Lentor Hills estate highlights the solid need for quality costs homes in the location,” claims Dora Chng, property supervisor of GuocoLand.
In its news release, GuocoLand says that the shopping mall is currently “more than 50%” leased, involving to anchor lessees CS Fresh and ChildFirst.
Lentor Modern was the initial property to be launched in the Lentor Hills estate. It saw a strong action upon launch, with the property amassing a take-up figure of 84% on launch day.
She adds: “We expect the launch of Lentor Central Residences to be met with strong attraction due to its closeness to our Lentor Modern shopping center which is straight attached to the Lentor MRT station on the Thomson-East Coast Line”.
The 533-unit Lentor Mansion, established by GuocoLand and Hong Leong Holdings, was released last March, with 75% sales accomplished during the first 2 days of open. The project is now 97% sold with less than 20 units remaining available, GuocoLand states.
Cautions on URA’s Realis data source demonstrate to that the last unit offered at Lentorn Modern was a 1,130 sq ft, three-bedroom unit which brought $2.4 million ($2,126 psf) on Jan 19. Houses at Lentor Modern first launched for business in September 2022. This implies that the flat has been completely taken up in less than 2 1/2 years since sales reservations started. Based upon cautions, the venture attained a common asking price of around $2,107 psf.
Meanwhile, units at the 558-unit Midtown Modern, located on Tan Quee Lan Road, brought an usual cost of approximately $2,825 psf. The 99-year leasehold condominium, which belongs to the Guoco Midtown mixed-use property development, was initially released up for sale in March 2021.
Along with Lentor Modern, GuocoLand is creating three other ventures in the estate with its joint venture companions. In July 2023, the property developer, together with Hong Leong Holdings and TID, released the 598-unit Lentor Hills Residences. The venture has offered 99% of units to day at a standard cost of about $2,099 psf, based upon cautions lodged.
Lentor Modern is a 99-year leasehold property consisting of 3 25-storey non commercial towers with a sum of 605 flats. The towers oversee a 96,000 sq ft mall that are going to include a 12,000 sq ft grocery store, a 10,000 sq ft childcare centre, and F&B and retail offerings. The property development will be incorporated with Lentor MRT Terminal on the Thomson-East Coast Line (TEL).
Not far away, the upcoming development at the Upper Thomson Road (Parcel B) site is intended for debut in the 2nd half of the year, GuocoLand declares. The developer, together with Hong Leong Holdings, was rewarded the Government Land Sales (GLS) plot last April after the joint project associates submitted the offered quote of $779.6 million for the 344,700 sq ft, 99-year leasehold site, reflecting a land price of $905 psf per plot ratio.
